Sotheby's Concierge Auction

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Sellers are attracted to our services and platform given our global database of 800,000 contacts including 165,000 weekly newsletter subscribers and 13,500 members of our Private Client Group which is composed of HNW and UHNW individuals including 3500 billionaires. 

Auction database consistently produces 30-50% of the buyers who step forward on a given property.  This coupled with our virtual/online presence which allows for virtual tours, online registration and online bidding makes it seamless for buyers to participate anywhere in the world. With our recent acquisition by Sothebys Auctions and Anywhere we now have the ability to get our properties exposed to an even greater database. 

By way of background, the company has been around for 14 years and has amassed over $3.5 billion in sales over this time. Approximately 200 auctions around the world each year are completed.

Below is a rough timeline:

• 1-2 weeks marketing prep after execution of agreement
• 4-6 weeks of marketing the property
• 5-7 days live auction bidding
• 30 day closing, sold as-is, where-is, and without contingency.

• There are zero upfront fees to the seller.
• Sotheby's Concierge Auction compensated by the buyer.
• The seller is responsible for the listing agreement/real estate commissions. 
• Our process expands the pool of potential buyers along with creating urgency and aggregating any existing demand in the market (latent or active). The marketing should generate 300+ inquiries and 25-50 showings. Our goal is to secure 4-7 qualified bidders. 
• Sellers possess unconditional pre-auction cancellation rights at no cost (zero cancellation fees).
• Our process for getting a property sold is approximately 4-6 weeks, followed by a 30 day closing.
• The property will sell as-is and contingency free. Bidders are vetted, required to place a $100,000 deposit in escrow and provide proof of funds.
• We do both Reserve and No Reserve format auctions.
• The majority of our auctions are conducted without a published reserve or established minimum bid (list price used as guide pricing). In this format, we will deliver binding and irrevocable pre-auction starting bids from each bidder before the auction begins (at our cost, in the form of a 50% discount on our fees).
• The seller will then have a go/no go decision on the day of the auction after reviewing the final field of bidders and their starting bids.
• Assuming we move forward the sale price is then realized via the competition of a multi-day online bidding period where bidders compete against each other to determine the high bid.